Honeywell Automation

By Sabrina Valle

NEW YORK, June 11 (Reuters) - Honeywell on Thursday said it is targeting deals valued at $2 billion to $4 billion and sees scope for acquisitions in its industrial automation business.

"There is a ton of opportunity for M&A,” said Peter Lau, president of Honeywell’s Industrial Automation unit during the company's investor day in New York, adding the business operates in a roughly $35 billion market.

Lau cautioned that organic growth remains a priority, however, describing the business as “way underpenetrated” in solutions and software.

At the group level, Honeywell signalled it will pursue bolt‑on deals within its preferred $2 billion to $4 billion range, focusing on automation and other mission‑critical segments where it sees clear commercial synergies and strong returns potential.

(Reporting by Sabrina Valle; Editing by Chizu Nomiyama)

(([email protected]; Twitter: @sabrinavalle;))

** Shares of Honeywell Automation India HONE.NS jump ~8.1% to 32,615 rupees, their highest intraday pct jump in two years

** HONE is top gainer on Nifty India Manufacturing .NIFTYINDIAMFG index, which is up ~0.7%

** The engineering firm's Q4 profit rose ~14.2% y/y to 1.6 billion rupees ($16.60 million)

** Revenue from ops rose 5.9% y/y, outpacing a 4.2% increase in total expenses, helping profitability

** Trading vols at nearly 4.5x the 30-day average

** HONE rated "hold" on average by five analysts, median PT: 39,725 rupees - data compiled by LSEG

** YTD, stock down ~0.5% vs Nifty India Manufacturing's 2.4% gain

($1 = 96.3750 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru)

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May 20 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• Q4 PROFIT 1.6 BILLION RUPEES

• Q4 REVENUE FROM OPERATIONS 11.81 BILLION RUPEES

• DECLARES DIVIDEND OF 110 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: HONE.NS

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Feb 2 (Reuters) - Engineering firm Honeywell Automation India HONE.NS reported a 8.3% fall in third-quarter profit on Monday, as higher expenses more than offset the impact of stronger manufacturing activity.

The firm, the Indian arm of U.S. conglomerate Honeywell International HON.O, offers integrated automation and control services for multiple industries such as oil and gas, infrastructure, and transportation.

India's clean‑energy incentives and industrial upgrade efforts supported new order inflows, while existing orders helped revenues, with revenue from operations rising about 7% to 11.69 billion rupees ($127.8 million) in the three months ended December.

However, the firm's total expenses jumped 7.6% to 10.38 billion rupees on the back of a 16.8% rise in employee benefit expense. As a result, profit declined 8.3% year-on-year to 1.21 billion rupees.

The income was also hit by a one-time charge of 114 million rupees tied to India's newly enacted labour codes, the company said. Profit, excluding the one-time charge and tax expenses, stood flat at 1.76 billion rupees.

Honeywell Automation India's stock, one of the country's most expensive, closed 2% higher to 33,610 rupees, ahead of the results.

The firm's parent company reported a profit beat in the October-December quarter on strong aerospace demand.

($1 = 91.4820 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Janane Venkataraman and Mrigank Dhaniwala)

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Aug 1 (Reuters) - Engineering firm Honeywell Automation India HONE.NS reported a second consecutive quarterly profit fall on Friday, as its expenses rose.

Profit at the Indian arm of U.S. conglomerate Honeywell International HON.O fell 8.7% year-on-year to 1.25 billion rupees ($14.3 million) in the quarter ended June 30.

Honeywell Automation, which provides smart building systems and clean-tech solutions, benefited from increased demand for automation, which boosted its revenue by 23.2% to 11.83 billion rupees.

However, its expenses rose 28.8% to 10.57 billion rupees, weighing on the bottomline.

Cost of materials consumed, which constitutes more than half of the total expenses, jumped more than 50%.

The company does not disclose details about its revenue segmentation or which raw materials it uses.

Honeywell Automation India's stock, one of the country's most expensive, closed 1.2% higher at 39,235 rupees ahead of the results.

Its parent's June-quarter net income was almost at $1.57 billion, it reported on July 24.

($1 = 87.4890 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala)

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Feb 7 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• Q3 PROFIT 1.32 BILLION RUPEES

• Q3 REVENUE FROM OPERATIONS 10.91 BILLION RUPEES

Source text: ID:nBSE5ZWtFw

Further company coverage: HONE.NS

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** Shares of Honeywell Automation India HONE.NS fall as much as 9.1% to 44,500 rupees

** The engineering firm reported a 5.6% y/y fall in Q2 profit to 1.15 bln rupees, hurt by slowing demand nL4N3M2045

** Stock on track to fall for a fourth straight month

** More than 17,000 shares traded, as of 9:50 a.m. IST, 3.8x their 30-day moving avg

** Mean rating of 7 brokerages rating the stock is "hold"; their median PT is 50,225 rupees - LSEG data

** HONE stock down 7.6%, cutting YTD gains to 22.8% so far

(Reporting by Meenakshi Maidas in Bengaluru)

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Oct 29 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• SEPT-QUARTER PROFIT 1.15 BILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 10.24 BILLION RUPEES

Source text: ID:nBSE6Dz2bY

Further company coverage: HONE.NS

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Oct 14 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• HONEYWELL AUTOMATION INDIA- WINS AIRFIELD GROUND LIGHTING PROJECT FOR NOIDA INTERNATIONAL AIRPORT

Source text for Eikon: [ID:]

Further company coverage: HONE.NS

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Aug 5 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• HONEYWELL AUTOMATION INDIA Q1 PROFIT 1.37 BILLION RUPEES

• HONEYWELL AUTOMATION INDIA Q1 REVENUE FROM OPERATIONS 9.6 BILLION RUPEES

Source text for Eikon: ID:nBSEbNwCX

Further company coverage: HONE.NS

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** Shares of engineering firm Honeywell Automation India HONE.NS rose as much as 20% during session to hit record high of 58,994 rupees

** HONE closes 13% higher, rallying for fifth straight session

** Co posts higher Q4 profit on strong infrastructure demand

** Brokerage Nomura raises PT to 53,600 rupees from 46,100 rupees on improving business prospects

** Share trading vols 22x 30-day avg. in busiest day since Dec 2012

** Day's gains take YTD surge to 51% after ~12% fall in 2023

(Reporting by Hritam Mukherjee in Bengaluru)

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May 15 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• HONEYWELL AUTOMATION INDIA LTD - ASHISH GAIKWAD RESIGNS AS MANAGING DIRECTOR

• HONEYWELL AUTOMATION INDIA LTD - APPOINTS ATUL PAI AS MANAGING DIRECTOR

Source text for Eikon: [ID:]

Further company coverage: HONE.NS

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Honeywell Automation India Ltd HONE.NS:

• HONEYWELL AUTOMATION INDIA LTD- GOT NOTICE FROM INTERNAL REVENUE SERVICE, HOUSTON

• HONEYWELL AUTOMATION INDIA LTD- NOTICE FOR PAYMENT OF $84,016

Source text for Eikon: ID:nNSEbW8ZrH

Further company coverage: HONE.NS

BENGALURU, Feb 8 (Reuters) - Engineering firm Honeywell Automation India HONE.NS reported a 20.6% jump in third-quarter profit on Thursday, helped by a surge in government spending on infrastructure.

Profit at the Indian arm of U.S.conglomerate Honeywell International HON.O was 1.28 billion rupees ($15.4 million) for the three months ended Dec. 31, compared with 1.06 billion rupees a year earlier.

The surge in infrastructure spending ahead of the Indian general elections due by May has buoyed the performance of engineering and construction firms.

Revenue from operations grew 5.3% to 10.71 billion rupees, while expenses rose at a slower pace of 2.6% to 9.25 billion rupees.

Growth in expenses had outpaced the rise in revenue in the last four quarters, weighing on profit.

Shares of the company closed 0.7% higher ahead of the results.

Rival KEC International KECL.NS said last week its consolidated third-quarter profit jumped over five times. Siemens SIEM.NS is expected to report its quarterly results next week.

($1 = 82.9550 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann Thoppil)

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Jan 5 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• GOT GST DEMAND ORDER FOR 8.3 MILLION RUPEES, INTEREST 8.5 MILLION RUPEES

• THERE IS NO MATERIAL IMPACT ON FINANCIALS

Source text for Eikon: ID:nBSEb2THSn

Further company coverage: HONE.NS

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Dec 12 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• GOT ORDER PASSED BY ADDITIONAL COMMISSIONER OF CUSTOMS FOR PENALTY OF UPTO 2.3 MILLION RUPEES

Source text for Eikon: ID:nBSEb6R5Ww

Further company coverage: HONE.NS

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Nov 6 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• HONEYWELL AUTOMATION INDIA SEPT-QUARTER PROFIT 1.22 BILLION RUPEES VERSUS PROFIT 1.18 BILLION RUPEES

• HONEYWELL AUTOMATION INDIA SEPT-QUARTER REVENUE FROM OPERATIONS 11.04 BILLION RUPEES VERSUS 7.94 BILLION RUPEES

Source text for Eikon: ID:nNSE3Pc4LP

Further company coverage: HONE.NS

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BENGALURU, Aug 10 (Reuters) - Engineering firm Honeywell Automation India HONE.NS reported its slowest profit growth in five quarters on Thursday, as expenses, led by the rising costs, outpaced revenue.

The Indian arm of U.S. conglomerate Honeywell International Inc HON.O reported profit grew a marginal 1.4% to 1.03 billion Indian rupees ($12.46 million) in the first quarter ended June 30.

Revenue rose nearly 19% to 9.32 billion rupees in the June quarter, slower than the 27.2% rise in revenue in the quarter ended March 31.

The growth in total costs, however, remained roughly the same sequentially - expenses rose 22% this quarter, averaging around 20% in the past three quarters.

As a result, the Pune-based company's earnings before interest, taxes, depreciation and amortisation margin fell to 12.9% compared with 16.3% last quarter and 15.5% in the year-earlier quarter.

The marginal rise in profit came from a 13% rise in other income. However, the company did not specify what constituted other income.

Shares of Honeywell Automation India closed 1.53% higher at 42,484.05 rupees, ahead of results.

($1 = 82.6380 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)

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** Honeywell Automation India Ltd HONE.NS jumps 8.5% to 40,650 rupees, set for best one-day gain since Aug 2020

** The integrated automation and software solutions provider posts 54.2% rise in Q4 profit

** Antique Stock Broking says "HAIL has reverted back to the growth trajectory post eight quarters of decline across all operational parameters"

** Says Q4 boosted by better-than-estimated gross, EBITDA margins; keeps "buy" and raises PT to 44,443 rupees

** Trading volume is over 4x the 30-day avg

** The avg rating of the eight analysts tracking HONE is "hold" and median TP is 39,500 rupees

** Stock's jump helps it cut YTD declines to 2.4%

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

May 17 (Reuters) - Honeywell Automation India Ltd HONE.NS:

• HONEYWELL AUTOMATION INDIA MARCH-QUARTER PROFIT 1.12 BILLION RUPEES VERSUS PROFIT 726.7 MILLION RUPEES

• HONEYWELL AUTOMATION INDIA MARCH-QUARTER REVENUE FROM OPERATIONS 8.50 BILLION RUPEES VERSUS 6.68 BILLION RUPEES

• DIVIDEND AT 95 RUPEES PER SHR

Source text for Eikon: ID:nBSE2gTfkM

Further company coverage: HONE.NS

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